The economy minister, Sergio Massa, highlighted the official data on the recovery of economic activity in the first half of the year and the improvement in the labor market, and although he recognized that there are still “problems to be solved”, he considered that “development with inclusion is built sustainably over time”.
“We still have problems to solve, but we are convinced that development with inclusion is built sustainably over time; with an internal market that drives production and is accompanied by greater investment. That is the path we intend to follow,” said the minister when assessing the latest data from the National Institute of Statistics and Censuses (Indec).
The agency revealed an “increase of 1% in the product compared to the first quarter and that production reached a growth of 6.9% compared to the second quarter of last year.”
“In this first half of the year, the economy accumulates an annual growth of 6.5%. In this way, the activity not only managed to recover from the crisis brought about by the pandemic, but is also 3% above the production level of the same period of 2019”, pondered Massa, in a thread of messages on his Twitter account.
This recovery occurs in a generalized framework, 15 of the 16 sectors that make up the economy had increases in activity. The manufacturing industry stands out with 7.7% year-on-year and trade 9.7% in the same period.
This is national job growth.– Sergio Massa (@SergioMassa) September 21, 2022
According to what he said, “this recovery occurs in a generalized framework”, since “15 of the 16 sectors that make up the economy had increases in activity” among which he highlighted the manufacturing industry “with 7.7% year-on-year and trade 9.7% in the same period”, based on data provided by the Center for Production Studies (CEP XXI).
“This is national job growth,” assured Massa, who assessed that “currently the employment rate reaches 44.6%, the highest value since 2016”.
“These figures added to the 10.7% year-on-year increase in consumption and 18.8% investment, mark the positive course that Argentina is experiencing,” he added.
